XML 30 R20.htm IDEA: XBRL DOCUMENT v3.19.1
Employee Benefits
3 Months Ended
Mar. 31, 2019
Retirement Benefits, Description [Abstract]  
Employee Benefits
Employee Benefits
The expected return on plan assets is included in "Investment and interest income, net" in the Company's Statements of Operations. The amortization of prior service benefit and amortization of gains are included in "Miscellaneous non-operating income". The amortization of prior service cost and amortization of losses are included in "Miscellaneous non-operating deductions". The interest cost component of net periodic benefit cost is included in "Other interest".
Retirement Plans
The net periodic benefit cost recognized for the three and twelve months ended March 31, 2019 and 2018, is made up of the components listed below as determined using the projected unit credit actuarial cost method (in thousands):
 
Three Months Ended
 
Twelve Months Ended
 
March 31,
 
March 31,
 
2019
 
2018
 
2019
 
2018
Components of net periodic benefit cost:
 
 
 
 
 
 
 
Service cost
$
2,488

 
$
2,758

 
$
10,818

 
$
9,006

Interest cost
3,608

 
3,223

 
13,263

 
13,034

Expected return on plan assets
(5,383
)
 
(5,315
)
 
(21,144
)
 
(19,696
)
Amortization of:
 
 
 
 
 
 
 
Net loss
1,418

 
2,100

 
7,871

 
8,465

Prior service benefit
(878
)
 
(878
)
 
(3,506
)
 
(3,506
)
Net periodic benefit cost
$
1,253

 
$
1,888

 
$
7,302

 
$
7,303


During the three months ended March 31, 2019, the Company contributed $3.0 million of its projected $9.5 million 2019 annual contribution to its retirement plans.
Other Postretirement Benefits
The net periodic benefit recognized for the three and twelve months ended March 31, 2019 and 2018, is made up of the components listed below (in thousands): 
 
Three Months Ended
 
Twelve Months Ended
 
March 31,
 
March 31,
 
2019
 
2018
 
2019
 
2018
Components of net periodic benefit:
 
 
 
 
 
 
 
Service cost
$
625

 
$
700

 
$
2,720

 
$
2,348

Interest cost
618

 
565

 
2,305

 
2,610

Expected return on plan assets
(530
)
 
(613
)
 
(2,352
)
 
(2,050
)
Amortization of:
 
 
 
 
 
 
 
Prior service benefit
(1,308
)
 
(1,538
)
 
(5,921
)
 
(6,151
)
Net gain
(575
)
 
(525
)
 
(2,216
)
 
(1,808
)
Net periodic benefit
$
(1,170
)
 
$
(1,411
)
 
$
(5,464
)
 
$
(5,051
)

During the three months ended March 31, 2019, the Company contributed $0.2 million of its projected $0.5 million 2019 annual contribution to its other postretirement benefits plan.